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Retail sales grow in February

UK retail sales volumes rose by 3.7% year-on-year in February and by 1.7% from January according to figures released by the Office for National Statistics today.

GENERAL MERCHANDISE

Retail sales grow in February

UK retail sales volumes rose by 3.7% year-on-year in February and by 1.7% from January according to figures released by the Office for National Statistics today.

The value of sales grew 3.5% year-on-year in February and by 1.3% on January 2014.

Meanwhile, the amount spent online increased by 12.4% in February compared to the same month last year. Compared to January 2014, the amount spent online rose by 2.5%.

Richard Lowe, head of retail & wholesale at Barclays, said: “Today’s figures continue to show growth, with the hstrong housing market contributing to sales of home ware products. However, the wet weather in February will have taken its toll on the high street, as many people preferred to shop online. Looking ahead, I expect modest growth to continue, with retailers looking forward to the important Easter trading period next month.”

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